Devils Lake inter-ocean. (Devils Lake, Ramsey Co., Dakota [N.D.]) 1884-1905, 1887-04-23
MERCHANTS NATIONAL.
A New Bank, New Capital and
New Blood.

New BLOOD.
Fred Il. Fulton and Ed 4. Gowrun, for
the past five years engaged in tho bank
ing and loaning business in the Red river
valley, have decided to establish u ma
tional bank in Devils Lake, making the
second institution of that kind in this
city, besides Il private bank, tho North
Shore. Mcssrs. Fulton & GOwran will
own jointly S40,0oo of tho stock of the
new bank. The remainder of tho $500
capital will be held by local business
men. Mr.. Fulton will be tho president
and Mr.. Gowran tho tllsliicr. The latter
becomes II permanent resident of Devils
Lake, and there is Il prospect that MIR.
Fulton will also come here to 1.-Two. They
corner of Fourth and Kelly and will
erect Il fine three story brick at IL cost of
not less than SlO,0W. Tho bank will oc-
cupy temporary quarters until tho new
building is erected, and the managers
expect to have the bank open for business
by the first Of June at tho farthcst.
Mr.. Fulton is well known throughout
Dakotn as one of the most prominent
capitalists and tinancicrs in the territory.
lie has Il large interest in IL national
| bank ut Grafton, and, with Mr.. Gowran,
| has carried on an extensive loaning and
bond brokerage establishment at Grand
Forks. Tho Grand Forks institution
will bo removed to this city and the bond
| brokerage business be conducted from
this point. Mr.. Gowran is we'll known
in tho Red river valley as Il careful and
cautious business man, who thoroughly
understands every feature of banking.
The location of this new enterprise in
Deyls Lake is very important, and the
acquisition of new capital and new blood
means II great deal for an cnterprising
ancnt growth, and confirms tho OF
repeated assertion That Devils Lake is the
most promising place in North Dakota.
Messrs. Fulton & GOwran made u thor
ough investigation throughout North
Oak kota, and finally selected Devils Lake
sl,lcration all the advantages Of location,
and came to the conclusion that tho fu-
ture Of Devils Lake looked the brightest.
Upon this hypothesis other shrcwd bus
mess men may see their way clear to 4
location; there is room here for other
branches of business. 1t is truo that
ninc-tenths of the men who came to
Devils Lake have made money. The
country hercabouts is fast settling up.
Extending the road further wost has
proved to be an ad vantage instead OF q
disadvantages. 1t has opened up large
field for the trade of those merchants
who are alive to the importance of rcuch
ing beyond tho city limits for business.
Happily for our town, its business men
are all "rcachors.' They haye conf
dcncc in the country, and the courage to
back that confidence. They want the
town to expand. We are not halnpered
with any of that class of men who arc
satisfied with one street town, or Il one
avenue town. or a one-allcy town. The
business mon Of Devils Lake want u big
town. They would like to see tho town
80 largo that street cars would be neccs-
sary to carry its inhabitants from one
side to the other; so busy and bustlng
that the people on one street would not
know what their ncighbors were doing
on the other; so tumultuOns with trade
and bargaining; so noisy with the jingle
and jostle Of commerce so maynifcently
tall in an architectural way that the echo
of a cannon would not be heard in tho
next block. Tho gentlemen who are at
the head of the s. Merchants National
Bank of Devils Lake" are the right kind
Of men to assist in building this ideal
city. They have already asked for shoul-
der room on several wheels of cOntcm-
plated public Improvement; they wan I
to push. We need all the pushers we
can get. For one, the INTER. OCEAN is
delighted to know that they have decid-
ed to come